AEM 121- Final Paper
4 Pages

AEM 121- Final Paper

Course Number: AEM 1210, Fall 2007

College/University: Cornell

Word Count: 866

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<a href="/keyword/armand-hershowitz/" >armand hershowitz</a> AEM 121 CU ID# 1844292 Net ID: Alh73 In a nation characterized by a free-enterprise system, any individual can succeed and any individual can fail. We all have the opportunity to climb through the ranks of society and strive to better ourselves. Specifically, entrepreneurs seize this opportunity and dedicate their lives to the...

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<a href="/keyword/armand-hershowitz/" >armand hershowitz</a> AEM 121 CU ID# 1844292 Net ID: Alh73 In a nation characterized by a free-enterprise system, any individual can succeed and any individual can fail. We all have the opportunity to climb through the ranks of society and strive to better ourselves. Specifically, entrepreneurs seize this opportunity and dedicate their lives to the pursuit of success. Joe DeSena, Cornell graduate of 1990, the Ex-Managing Director of Tullett Liberty Securities Group, and the founder and former CEO of Burlington Capital Markets has sacrificed and dedicated his whole life to the pursuit of success. When Joe DeSena was raised, he saw how his father's life was in corporate shackles, with 20-hour workdays and few sick days. It was then at age six when he made a goal to amass all of his money before he got married. This way, unlike his father, he would be able to devote his life to his family. During this determined pursuit of immediate success, he learned a multitude of essential lessons on the way. At age eight, Joe was selling firecrackers on the streets of Queens! He mastered the ethics of arbitrage by buying the firecrackers at ten cents and selling them for thirteen cents! Then the DeSena family moved to Ithaca where Joe learned about the principles of supply and demand. Queens and Ithaca had the same demand curve, but Ithaca, a small town did not have any other firecracker distributors! Therefore, eight-year old Joe had his own monopoly and was able to charge even more for the firecrackers! Coupled with learning basic economics, his early vending years also taught him a vital lesson; service. Joe learned the importance of acquiring and immediately satisfying consumer needs. Unfortunately, Joe got arrested for selling firecrackers! Joe could not give up sales, he had a goal to amass money and his family could not provide for him otherwise. Immediately, Joe found a new niche in pool servicing because he analyzed Ithaca's consumer needs, as he learned to in his early years. The pool servicing business was a growing success but Joe realized that going to College would make him more prosperous. Joe, although a very hard worker, did not receive satisfactory grades in High School because he was too busy trying to make money. Therefore, he was not accepted into Cornell. Nevertheless, Joe continued to re-apply into Cornell and eventually pulled enough strings to get accepted into the Ivy-League institution. In the meantime, his pool business was growing exponentially! The first year he only amassed $25,000 of revenue and the second year he received over a million dollars of revenue! In this pool servicing business Joe learned that it was more profitable to retain current customers instead of trying to make new ones. At Cornell, in response to Joe's growing business he decided to study entrepreneurship. During his studies he came across Al Capuche who tried to convince Joe to enter the stock market. Nonetheless, Joe's pool business was up to two million dollars a year, and Joe kindly refused his suggestions. Eventually, Joe invested in a stock called Syntex and made $100,000 in one day! The next day he went to <a href="/keyword/wall-street/" >wall street</a> . After six months of hustling in <a href="/keyword/wall-street/" >wall street</a> , where chaos was rampant and people were being fired constantly, Joe eventually landed a job at Prime Brokerage. For the next six months, Joe worked as hard as he could; teaching himself the business while commuting as fast as he could from Ithaca to <a href="/keyword/wall-street/" >wall street</a> . Slowly but surely, Joe persevered, he ignored his financial hardships, kept his head down and slowly took his bosses' jobs while moving up the corporate hierarchy. A key lesson Joe learned during this job struggle was to never teach an employee everything about the business, because they will soon become your competitor. Eventually, Joe decided that it was time to make something big and test his ambition and make his final stretch at success. Joe met up with another Cornelian and they together netted three million dollars and started up their own private <a href="/keyword/wall-street/" >wall street</a> firm. All of Joe's money was in this business; it was his life, and his one chance to escape his constant financial struggle. Joe became the Rocky Balboa of <a href="/keyword/wall-street/" >wall street</a> and worked as hard as he could. He met with tons and tons of clients everyday. Many times he would meet with three or more clients in one sitting! Fortunately, the juice was worth the squeeze and he sold the company to Tullett Holding Inc. Determination, the characteristic which makes champions in all aspects of life is the most important character trait anyone could possess. With a stellar work ethic to achieve a goal, no matter how many obstacles are in the way, one can learn the means to accomplish anything. Additionally, Joe has applied his stellar work ethic outside of the entrepreneur realm. For example, he has prevailed in marathons that start 280 feet below sea level in Death Valley National Park, 100 mile marathons in Vermont, and cross country races in the Fiji Islands! As Joe DeSena stated to Fortune reporters, &quot;The phrase 'I can't' doesn't mean anything to me anymore, not because of my ego but because I know anything is possible.&quot;

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